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Amid increasing popularity of Xiaomi phones in India, the Chinese smartphone maker has said that three of its top five global sales channels belong to India. The company added that the channels contribute 32 percent of the company’s global revenue in 2017, reports The Economic Times.
The company in its filing for Initial Public Offering (IPO) in Hong Kong stated a Chinese company holds the top position among the five global sales channels without mentioning the name.
The second spot, it claimed, is held by ‘an e-commerce company based in India’, followed by another Chinese company at third position. At number fourth is ‘consumer electronics distributor based in India’ and the fifth position is occupied by ‘Indian operation of a leading international ecommerce company’.
However, people with knowledge of the news named Flipkart to be Xiaomi’s second largest global trade partner, followed by TVS Electronics at number four and Amazon India at the fifth position.
TVS Electronics is a subsidiary of the renowned TVS Group, which also owns TVS Motor, one of the biggest two-wheeler manufacturer in India. TVS Electronics is responsible for handling Xiaomi’s sales and distribution via the company’s official website Mi.com in India.
“We are No. 1 in terms of smartphone unit shipments online in both mainland China and India in the fourth quarter of 2017, according to IDC… We cooperate with third-party ecommerce platforms such as JD.com, Tmall, Flipkart, TVS Electronics and Amazon to leverage their localised sales and marketing expertise, logistics and payment infrastructure,” Xiaomi stated in the filings.
Headquartered in Beijing, Xiaomi is the largest smartphone manufacturer in India at the end of March quarter, with a market share of 31.7 percent according to Counterpoint Technology Market Research, a Hong-Kong based market research firm. Closely trailing Xiaomi is South Korean tech giant Samsung, with market share of 26.2 percent.
Xiaomi is also the market leader in online retail space with a majority 57 percent market share. The company belittles most global giants in India with Samsung coming the second best at 9 percent followed by Motorola at 8.9 percent, Lenovo at 4 percent and US-based iPhone maker Apple Inc at 3.4 percent.
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